Westinghouse Air Brake Technologies (NYSE:WAB) Downgraded by StockNews.com to Hold

Westinghouse Air Brake Technologies (NYSE:WAB) was downgraded by stock analysts at StockNews.com from a “buy” rating to a “hold” rating in a research report issued to clients and investors on Monday.

Other equities analysts have also recently issued reports about the company. KeyCorp raised their target price on Westinghouse Air Brake Technologies from $200.00 to $220.00 and gave the stock an “overweight” rating in a report on Wednesday, November 13th. Stephens reaffirmed an “overweight” rating and set a $220.00 price objective on shares of Westinghouse Air Brake Technologies in a research report on Thursday, February 13th. Finally, Bank of America boosted their price objective on Westinghouse Air Brake Technologies from $225.00 to $226.00 and gave the company a “buy” rating in a research note on Wednesday, January 15th. Three research analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $206.33.

Westinghouse Air Brake Technologies Stock Performance

Shares of Westinghouse Air Brake Technologies stock traded down $3.79 during trading hours on Monday, reaching $181.57. 1,341,834 shares of the stock traded hands, compared to its average volume of 1,179,718. Westinghouse Air Brake Technologies has a one year low of $139.12 and a one year high of $210.88. The firm has a market capitalization of $31.02 billion, a price-to-earnings ratio of 30.11, a P/E/G ratio of 1.50 and a beta of 1.27. The company has a quick ratio of 0.69, a current ratio of 1.30 and a debt-to-equity ratio of 0.34. The company has a 50 day moving average price of $195.97 and a 200 day moving average price of $189.05.

Westinghouse Air Brake Technologies (NYSE:WAB) last announced its earnings results on Wednesday, February 12th. The transportation company reported $1.68 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.74 by ($0.06). Westinghouse Air Brake Technologies had a net margin of 10.17% and a return on equity of 12.78%. On average, equities research analysts expect that Westinghouse Air Brake Technologies will post 8.54 earnings per share for the current fiscal year.

Insider Buying and Selling

In other news, CEO Rafael Santana sold 886 shares of Westinghouse Air Brake Technologies stock in a transaction that occurred on Thursday, February 27th. The shares were sold at an average price of $182.34, for a total transaction of $161,553.24. Following the sale, the chief executive officer now owns 176,295 shares in the company, valued at $32,145,630.30. This trade represents a 0.50 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. 1.10% of the stock is owned by insiders.

Hedge Funds Weigh In On Westinghouse Air Brake Technologies

Hedge funds and other institutional investors have recently modified their holdings of the stock. Erste Asset Management GmbH purchased a new stake in Westinghouse Air Brake Technologies in the 3rd quarter worth $61,474,000. Lord Abbett & CO. LLC bought a new stake in shares of Westinghouse Air Brake Technologies in the third quarter worth about $24,630,000. KLP Kapitalforvaltning AS bought a new position in Westinghouse Air Brake Technologies during the fourth quarter valued at approximately $22,509,000. AGF Management Ltd. bought a new position in Westinghouse Air Brake Technologies during the fourth quarter valued at approximately $10,566,000. Finally, B. Metzler seel. Sohn & Co. Holding AG purchased a new position in Westinghouse Air Brake Technologies during the 3rd quarter valued at approximately $7,128,000. Institutional investors own 91.69% of the company’s stock.

Westinghouse Air Brake Technologies Company Profile

Westinghouse Air Brake Technologies Corporation, together with its subsidiaries, provides technology-based locomotives, equipment, systems, and services for the freight rail and passenger transit industries worldwide. It offers diesel-electric, battery, and liquid natural gas-powered locomotives; engines, electric motors, and propulsion systems; and marine and mining products.